TOLEDO, OH (Toledo News Now) – A new public power company, managed by the city of Toledo, is now operating. It is called the Toledo Public Power Company and city officials believe it can spur economic growth.
Since it is a new company, there is only one customer: the metal recycling company, OmniSource.
Toledo Public Power is designed to be a cheaper source of energy to help businesses in the area.
The Toledo Director of Public Utilities said he hopes offering more affordable electricity will only mean good things for the future.
"For economic development, if you can help them out with their energy costs, that's one of the major factors. And this is what were trying to do: Allow companies - if they have this option from Toledo Public Power - to get power at a lower cost and create jobs, retain jobs, or attract jobs," explained David Welch.
According to Welch, OmniSource will be the only customer for a short while since the company is so new they want to test it and have time to fix problems before more businesses join.
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